| Abstract | Vietnamese economy is dramatically developing for the last few years, GDP growths from
$298 per person in 1998 to $635 per person in 2005. According to the latest statistics, foreign
investment capital into Vietnamese real estate market is rapidly increasing. The statistics
from Foreign Investment Bureau of Department of Planning and Investment shows that
Foreign Direct Investment (FDI) into Vietnam, for the first eight months of 2008, gets $47.2
million. Among these, there are $22.5 million, nearly 50% of total FDI capital of Vietnam,
invested in real estate market.
In the list of foreign projects that were invested in Vietnam in 8 months of 2008, real estate
projects were ranged at the third position with 116 projects including 65 construction
projects, 22 office and apartment projects, 3 new residential areas, 5 infrastructure of
industrial and export processing zones, and 21 projects of tourism and hotel. There are some
projects such as Kumho Asiana Plaza of Korea costs $255 million, Platinum Plaza of WCT
Engineering Berhad Malaysia, Sai Gon Financial Centre and VIUT university urban area of
Bejiaya Malaysia with total capital is $3.5 billion.
Thus, besides experience from infrastructure projects is CII’s advantage, real estate is another
attractive market that CII is going to focus on. By developing and executing effectively these
short-term projects, CII can get more money to support its long-term infrastructure projects.
In addition, executing real estate and residential area projects will be a good chance for CII to
develop a professional human resource and to establish a professional project management
section. This will be another advantage of CII in the future. |